Potential Snipe Trade Setup

Jun 19, 2020

Currently to me looks like we have a bit of a descending triangle forming in yellow on the 15min. If we get a candle close below my support I would be expecting a bit of a drop towards 9k which also happens to match up with my purple parallel channel that I've mentioned in previous posts, As long as we respect old support as new resistance. On the opposite side of things if we get a third touch point confirming my yellow triangle resistance followed by a candle body close above I would expect us to actually be in a bit larger of a triangle pattern (red resistance) which price will vary depending how long it takes to reach up there but just eyeballing looks like probably around 9450 ISH?

Jun 20, 2020

Comment

we are still bouncing around in triangle so far. we had the one candle wick outside the triangle in both directions but never got any 15min candle close